South Korea’s state-run Public Procurement Service has bought 200 tonnes of refined tin from local trading companies, it said on Thursday. Daewoo International and Hanwha are to supply 100 tonnes each at premiums of $277 – 373/tonne over the LME price c.i.f Busan.
The Public Procurement Service manages raw material purchases for small and medium-sized Korean companies. Last July it announced plans gradually to increase its stockholding of key metals, including tin, from 19 to 60 days’ supply.
